Ceres Power (LON:CWR) Stock Price Down 9.5% – What’s Next?

Ceres Power Holdings plc (LON:CWR) dropped 9.5% on Friday . The company traded as low as GBX 328.60 and last traded at GBX 335.80. Approximately 6,680,946 shares traded hands during mid-day trading, an increase of 222% from the average daily volume of 2,075,624 shares. The stock had previously closed at GBX 371.

Analyst Ratings Changes

Separately, Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 460 price objective on shares of Ceres Power in a research report on Friday, November 7th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Ceres Power currently has a consensus rating of “Buy” and a consensus price target of GBX 400.

Ceres Power Stock Performance

The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48. The business’s 50-day moving average price is GBX 214.87 and its 200-day moving average price is GBX 134.36. The stock has a market cap of £644.30 million, a P/E ratio of -18.16 and a beta of 1.60.

Ceres Power (LON:CWR) last issued its earnings results on Friday, September 26th. The company reported GBX (10.14) earnings per share for the quarter. Ceres Power had a negative return on equity of 22.96% and a negative net margin of 101.69%. As a group, sell-side analysts expect that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current fiscal year.

Ceres Power Company Profile

Ceres is a leading developer of clean energy technology: electrolysis for the creation of green hydrogen and fuel
cells for power generation. Its asset-light, licensing model has seen it establish partnerships with some of the world’s largest companies, such as Bosch, Doosan, Delta and Weichai. Ceres’ solid oxide technology supports greater electrification of our energy systems and produces green hydrogen at high-efficiencies as a route to decarbonise emissions-intensive industries such as steelmaking, ammonia and future fuels.